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Episodes
Tuesday Jul 18, 2023
Tuesday Jul 18, 2023
In today’s episode, Toby Mathis, Esq. speaks with Karim Hanafy, Esq., about the top ten most common mistakes that are made when setting up a non-profit 501(c)3. From issues with state vs. federal requirements, to describing your charitable activities, compensation of your board, and the ever-important asset protection, Karim has seen every mistake possible and wants to help you have a seamless experience when setting up your non-profit organization. See the links below for a free workshop from Anderson Advisors.
Highlights/Topics:
- Karim’s background/expertise in non-profits
- Top 10 mistakes in no particular order
- Accidental setups in the wrong structure: For-profit, B-corps, LLC’s
- State requirements for Articles of Incorporation vs. Federal
- Describing your charitable activities
- Incorrect terminology that triggers investigation and delays
- Public charity or private foundation?
- Compensation for directors and officers, board members
- Filing tax returns
- Donating different types of assets - professional appraisals and the correct forms
- Donor thank you letters and the IRS-required language
- Asset protection
Resources:
Start Your Nonprofit Plan in 45 Minutes For Free
https://andersonadvisors.com/nonprofit-501c3/
khanafy@andersonadvisors.com
https://www.youtube.com/c/tobymathisesq
https://andersonadvisors.com/